The release of the Absinthe untethered jailbreak a few months ago came as a blessing for the owners of iPhone 4S and iPad 2 running on iOS 5.0.1. And now, with Apple making the iOS 5.1 available for an upgrade, jailbreak lovers are eagerly waiting for the next iOS jailbreak.

However, for the users of A5 device (iPhone 4S and iPad 2) owners, who are still on iOS 5.0.1, here's some great news. The popular RedSn0w jailbreak tool has just received a significant update to version 0.9.10b7 with a number of useful additional features that indeed make the update worth trying.

In addition, the update also brings preliminary support for an exciting new aspect of the tool, expected to feature in the next release. As the iPhone Dev Team pointed out, the next new feature to be added would be built-in restore support to provide an alternative to iTunes restores. The new feature would help users handle all of their jailbroken needs from within one application, Redmond Pie reported.

The seventh beta of the current Redsn0w release also implements the corona-A5 jailbreak for iPhone 4S and iPad 2, as long as they are running iOS 5.0.1. Moreover, the improvements also include the ability for users to re-install the Corona untethered jailbreak if they've accidentally uninstall it.

Another remarkable aspect of the new version of RedSn0w is its ability to pull SHSH blob directly from Cydia Store while stitching an IPSW (custom firmware bundle).

According to iPhone Dev Team, RedSn0w v0.9.10b7 also shows a lot more info about your device (for instance, whether your iPhone3G has the vulnerable baseband boot loader, or whether your iPhone3GS has the old exploitable bootrom.

The update does bring good news for those A5 users who are still using iOS 5.0.1. However, the big news has to be the planned restore feature that will hopefully come with the next Redsn0w release, says the Redmond Pie report.

RedSn0w v0.9.10b7 is compatible with both Mac and Windows. Below are the download links:

French iOS hacker Pod2g took to his Twitter account Wednesday and announced that he and his team were in possession of all the required exploits to start working on a new jailbreak.

News: we have all exploits required to do a new jailbreak. I'm working on bypassing ASLR at bootup, Pod2g tweeted.

The announcement made by Pod2g is indeed an encouraging one for the many waiting for a public release of an untethered jailbreak for iOS 5.1, but it doesn't necessarily mean that a release is taking place anytime soon. It does mean that the efforts to create the jailbreak are going along nicely, but there is still no estimated time of arrival for an iOS 5.1 untethered jailbreak.

After Pod2g's announcement on Twitter, iOS hacker Grant Paul, better known as Chpwn, reminded users that it would take months before the jailbreak is actually ready for public release.

Remember: just because all the exploits are found doesn't mean that a jailbreak exists - it's likely months away from first working at all, Chpwn tweeted.